This is incredible. We’ve spent trillions — TRILLIONS — in the last six months. We were told that the flooding of spending and balooning of governemnt was “necessary” to fight the recession and create jobs.
But the administration just admitted that the spending has failed. It hurts, but it’s true. The administration has actually admitted it.
Joe Biden: The Stimulus “Guessed Wrong”
Obama and Biden told us that their radical spending would create 3 million jobs. They said it would drastically help the economy. They told us that it was necessary to take 700 billion dollars from the American’s WITH jobs to “create” jobs for unemployed Americans.
Biden just admitted that the stimulus “guessed wrong”. There will NOT be three million jobs created. The spending that was so controversial was just random pork spending.
Pork spending is not a stimulus for the economy. Pork is not economically helpful — not during good OR bad economic times.
Biden just claimed their goal is to create 600,000 jobs — about 1/5th of the original goal. In other words, they’ve made their goal so small, there’s no way on earth to tell if they achieved even the new one.
The reason is simple: government CANNOT fix the economy. If it could, we’d just pass a law that whenever we see a recession or job loss that the government would spend a few billion to “jumpstart” the economy. But we won’t do that because it doesn’t make economic sense.
Deja Vu: FDR’s “Stimulus” Plan Failed Too
This is NOT the first time the government wasted trillions to fix the economy. During the Great Depression, FDR spent untold billions, randomly splashing money from the wealthy to the unemployed. FDR failed as well.
In school, we learn that FDR did what was necessary for the economy. This is just proof that history is written by the people who win the elections.
As a matter of fact, FDR’s own treasury secretary Henry Morgenthau said this about the New Deal spending:
“We have tried spending money. We are spending more than we have ever spent before and it does not work… And I have just one interest, and if I am wrong … somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises … I say after eight years of this Administration we have just as much unemployment as when we started … And an enormous debt to boot!”
Morgenthau was actually wrong, though. In 1939, right before WWII broke out, the unemployment in the US was actually WORSE than before FDR was president. The random and radical pork spending and government expansion didn’t create jobs — it destroyed jobs.
If there is one thing we have learned over, over, and over in history, its’ that politicans can’t run an economy.
Not in Russia. Not in North Korea. Not in China. Not in Europe. Not in America. Not now. Not during the Great Depression. Not ever. Government can’t control the economy … it doesn’t work.
How much more money has to be wasted before we wake up? How many more businesses have to be taken over by the Obama regime? How many more jobs have to be lost?